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Facility Management Market 2023 : Profiling Key Players, Value Estimation and Analysis by Recent Trends to 2032

11-29-2023 09:37 AM CET | Fashion, Lifestyle, Trends

Press release from: Report Ocean

Facility Management Market 2023 : Profiling Key Players, Value

Report Ocean, an esteemed firm specializing in comprehensive market research spanning across 150+ countries and producing an annual publication of over 100,000 reports, has recently unveiled an exhaustive research analysis and tailored strategies specifically for the "Facility Management Market". Developed by a proficient team of subject matter experts, seasoned researchers, and market research professionals, this report assures the utilization of precise data derived from credible sources, ensuring the highest level of forecast accuracy.

The facility management market is experiencing significant growth, with a projected CAGR of over 12% through 2028. This growth is driven by increasing investments in infrastructure development and rising construction activities worldwide.

According to a recent study conducted by strategic consulting and market research firm Report Ocean, the global facility management market was valued at USD 43.4 billion in 2021. It is forecast to grow at a CAGR of 12.20%, reaching revenues of around USD 94.1 billion by 2028. The market's growth is attributed to the increasing investments in infrastructure development, construction activities, and the flourishing tourism industry in different parts of the world. Additionally, the adoption of advanced technologies such as cloud computing, SaaS, IoT, and artificial intelligence (AI) is creating lucrative growth opportunities for the facility management market.

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The flourishing tourism industry is a significant driver of the facility management market. Governments and private players are investing in the development of commercial spaces such as hotels, restaurants, and public houses, as well as the management of historical sites, to attract tourists. This has led to an increased demand for facility management services in the hospitality sector.

Rising business collaborations and partnerships are propelling the facility management market. Players in the market are adopting various competitive strategies, including partnerships, mergers, and collaborations, to leverage the growth potential of the market. For example, Dexterra Group Inc. recently acquired TRICOM Facility Services group of companies to expand its integrated facility management business unit.

Based on end-users, the commercial segment holds the largest market share due to the growing number of commercial spaces worldwide. These facilities, including offices, hospitals, airports, and sports facilities, are opting for in-house facility management services to comply with safety and hygiene regulations. However, the manufacturing and industrial segment is expected to witness the highest growth rate during the forecast period.

Geographically, the Asia-Pacific region dominates the facility management market, followed by the Middle East & Africa. The economic diversification in Middle Eastern countries and the establishment of commercial facilities are driving market growth in that region.

Key players in the facility management market include Archibus Inc., Trimble Navigation Ltd, Broadcom Inc., SAP SE, IBM Corporation, Oracle Corporation, CB Richard Ellis, Veolia Environment, Colliers International, Compass Group, Cushman & Wakefield, and Jones Lang LaSalle Incorporated, among others. These players focus on expanding their service offerings and engage in competitive strategies such as partnerships and acquisitions to gain a market edge.

The facility management market presents significant business opportunities. Companies can consult analysts to gain crucial insights and facilitate their business growth. The in-depth analysis provided by the report offers information on growth potential, upcoming trends, and statistics of the facility management market. It also highlights the driving factors, challenges, and competitive dynamics of the market, enabling decision-makers to make strategic decisions based on industry insights and recent technology trends.

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Market Overview
Market Size & Forecast by Value, 2018-2028
By Value (USD Million)
Market Share & Forecast

By Component

By Deployment Mode

By Organization Size
Large Enterprises
Small and Medium Enterprises

By Vertical
IT and Telecom
Government and Public Administration

By Region
North America
Latin America
Middle-East and Africa

Reasons to Buy:

Informed decision-making: Market research reports provide valuable insights into industry trends, customer behavior, and competitor analysis. This information can help businesses make informed decisions about product development, pricing, and marketing strategies.

Competitive advantage: By identifying market gaps and opportunities, market research reports can provide a competitive advantage that can help businesses differentiate themselves from their competitors and gain a larger share of the market.

Industry expertise: Market research reports are prepared by industry experts who have a deep understanding of the market and its dynamics. These reports provide an unbiased and objective view of the industry, which can be invaluable for businesses that want to gain a deeper understanding of the market.

Saves time and money: Conducting market research can be time-consuming and expensive. By purchasing a market research report, businesses can save time and money by accessing a comprehensive and detailed analysis of the market.

Risk management : Market research reports can help businesses manage risks associated with market entry, product development, and expansion. By providing a detailed analysis of the market and its trends, businesses can make informed decisions that minimize risks and maximize returns.

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About Report Ocean:
We are the best market research reports provider in the industry. Report Ocean believes in providing quality reports to clients to meet the top line and bottom line goals which will boost your market share in today's competitive environment. Report Ocean is a 'one-stop solution' for individuals, organizations, and industries that are looking for innovative market research reports.

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